Immunome (NASDAQ:IMNM) Trading 7.9% Higher – What’s Next?

Immunome, Inc. (NASDAQ:IMNM)’s share price rose 7.9% during mid-day trading on Thursday . The company traded as high as $23.16 and last traded at $23.1850. Approximately 877,764 shares traded hands during trading, a decline of 38% from the average daily volume of 1,425,535 shares. The stock had previously closed at $21.49.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IMNM. Wedbush restated an “outperform” rating and set a $31.00 target price on shares of Immunome in a report on Friday, June 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research note on Tuesday, April 21st. Leerink Partners dropped their target price on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Immunome in a research note on Wednesday, May 13th. Finally, Barclays began coverage on Immunome in a report on Thursday, May 28th. They set an “overweight” rating and a $36.00 price target for the company. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.

Immunome Price Performance

The stock’s 50-day simple moving average is $20.96 and its 200 day simple moving average is $21.80. The stock has a market capitalization of $2.67 billion, a P/E ratio of -9.92 and a beta of 2.07.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.12. As a group, analysts expect that Immunome, Inc. will post -2.06 earnings per share for the current fiscal year.

Insider Activity at Immunome

In related news, Director Jean Jacques Bienaime acquired 10,500 shares of the business’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $19.45 per share, for a total transaction of $204,225.00. Following the completion of the transaction, the director directly owned 43,415 shares of the company’s stock, valued at approximately $844,421.75. The trade was a 31.90% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Max Rosett sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $18.23, for a total value of $1,093,800.00. Following the sale, the chief financial officer owned 54,037 shares of the company’s stock, valued at approximately $985,094.51. This represents a 52.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 316,050 shares of company stock valued at $6,578,726 in the last 90 days. Insiders own 7.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMNM. T. Rowe Price Investment Management Inc. boosted its position in shares of Immunome by 59.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock valued at $288,305,000 after acquiring an additional 5,003,824 shares during the period. JPMorgan Chase & Co. increased its position in Immunome by 8,659.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock worth $61,341,000 after acquiring an additional 2,823,144 shares during the period. Primecap Management Co. CA increased its position in Immunome by 55.2% during the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock worth $100,643,000 after acquiring an additional 1,667,432 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Immunome in the 4th quarter worth about $30,710,000. Finally, Sofinnova Investments Inc. raised its stake in Immunome by 271.2% in the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock worth $34,765,000 after purchasing an additional 1,182,426 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Company Profile

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.